Gibson Inc. was organized on January 1, 2021. The firm was authorized to issue 82,000 shares of $5 par common stock. During 2021, Gibson had the following transactions relating to shareholders' equity: Issued 9,500 shares of common stock at $6.90 per share. Issued 19,500 shares of common stock at $9.60 per share. Reported a net income of $109,000. Paid dividends of $49,000. Purchased 2,300 shares of treasury stock at $11.60 (part of the 19,500 shares issued at $9.60). What is total shareholders' equity at the end of 2021?

Multiple Choice

a.) $335,070.

b.) $287,870.

c.) $286,070.

d.) $308,390.